Switzerland still Zambia’s top export market

SWITZERLAND has remained the main market for Zambia’s metal exports contributing immensely to the country’s increased foreign exchange earnings, the Central Stastical Office (CSO) has said.
Latest statistics show that Zambia’s metal exports to the overseas market, increased to K2.747 million during the month of July 2013, compared to K2.646 million the previous month in June, with Switzerland contributing the largest share.
CSO director John Kalumbi said the overall contribution of metals and their products to total export earnings in June and July 2013, averaged 59.1 per cent.
Briefing the media in Lusaka, Mr Kalumbi said the share of non-traditional exports (NTEs) recorded an average of 40.9 per cent in revenue earnings between June and July, 2013.
Zambia’s major export destination in July 2013 was Switzerland, which accounted for 38 per cent.
The major export products to this destination were cathodes and refined copper, accounting for 93.7 per cent.
“China was the second major destination of Zambia’s exports in that month, accounting for 16.7 per cent. with the major export product being copper blisters, representing 53.5 per cent,” Mr Kalumbi said.
South Africa was the third major export destination accounting for 15.3 per cent, with the main export products being semi-manufactured gold representing 30.1 per cent.
The fourth market was the Democratic Republic of Congo (DRC), accounting for 10.3 per cent with the main export product being sulphuric acid accounting for 27.8 per cent.
Singapore was the fifth major export destination accounting for 4.2 per cent and Mr Kalumbi said the five countries collectively accounted for 84.5 per cent of Zambia’s total export earnings in June.
The Southern African Development Community (SADC) was the largest market for Zambia’s total exports, accounting for 33 per cent in July 2013.
Mr Kalumbi explained that within SADC, South Africa was the dominant market with 46.5 per cent, while other notable markets in the SADC were, Malawi, Zimbabwe and Mauritius.
The Asian regional grouping was the second largest market for Zambia’s total exports, accounting for 25.3 per cent.
Common Market for Eastern and Southern Africa (COMESA) was the third largest market for Zambia’s exports
representing 16.6 per cent and within COMESA, Congo DR was the dorminant market with 62.5 per cent, with other notable markets being Malawi, Zimbabwe, Mauritius and Kenya.
He said the European Union (EU) was the fourth largest market for Zambia’s total exports accounting for 2.8 per cent.
Zambia’s major import products by category in July 2013, were capital goods, which accounted for 36.1 per cent.
The consumer goods category was the second with 23.2 per cent, followed by intermediate goods category with 22.7 per cent, while raw materials was the fourth with 18 per cent.
Zambia in June and July, stood out as a net importer of capital goods, contributing an average of 40 per cent of the total imports.